Monthly wholesale electricity prices in Belgium 2019-2024
In March 2024, the average wholesale electricity price in Belgium stood at approximately 61.13 euros per megawatt-hour, a year-over-year decline of 44 percent. Electricity prices recorded a steep increase between mid-2021 and August 2022, mainly due to rising natural gas prices, which were aggravated by Russia's invasion of Ukraine.
In 2023, natural gas accounted for almost 21 percent of the country's electricity production.